Helium Evolution will abandon its fourth farmout well in Saskatchewan, drilled by North American Helium, who will suspend the cased hole portion for potential re-entry and side-track drilling. This is the 6th unsuccessful well for HEVI since the IPO, although the potential for re-entry offers some hope. HEVI shares are down >70% since IPO as it has failed to achieve its 1 in 3 to 1 in 4 expected exploration success rate. HEVI provided spud dates for its remaining 3 wells - the Mankota and McCord wells are to be drilled by 31st August 2023 and the Fox well by 31st March 2024. NAH is responsible for 100% of the drilling costs for these 3 wells.
top of page

Search
Recent Posts
See All45-8 Energy launched an exploration programme in Western Pomerania, Germany, using seismic imaging to assess helium deposits identified...
Gold Hydrogen received a A$6.45mm R&D tax refund, boosting its cash reserves to ~A$13.45mm, positioning it well for its 2025 drilling and...
bottom of page